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Hong Kong to Grant Fewer Than 10 Stablecoin Licenses as August Deadline Approaches

Hong Kong to Grant Fewer Than 10 Stablecoin Licenses as August Deadline Approaches

Published:
2025-07-08 15:21:02
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BTCCSquare news:

Hong Kong's Stablecoin Ordinance, set to take effect on August 1, will introduce stringent licensing requirements for issuers of fiat-referenced stablecoins. The Hong Kong Monetary Authority (HKMA) anticipates issuing fewer than 10 licenses by the end of 2025, despite over 40 applicants vying for approval. Established financial institutions and major Chinese tech firms, including ANT Group and JD.com, dominate the applicant pool.

The regulatory shift underscores Hong Kong's ambition to solidify its position as a digital finance hub. Demand is particularly high for yuan-pegged stablecoins, reflecting the region's strategic focus on bridging traditional finance with digital asset innovation. The HKMA's new oversight powers mark a decisive step toward institutionalizing cryptocurrency markets.

|Square

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